All Forum Posts by: Nash Mittelman

So, I recently helped a client look for a home. It was a super cool single-family property, yet for some reason, the listing hadn't received any offers on offer day. After a closer look into the disclosures, it turns out that the ADU (permitted, junior ADU) was being rented for supplemental income on Airbnb. Unfortunately, one of the Airbnb guests committed suicide in the ADU, and under CA law, the owner has to disclose the event for at least 5 years.

The property is currently sitting on the market, listed at 1.5 million, and should sell for 1.7 million if there wasn't a death on the property. I'm a little mind blown at the fact that they might get 1.4 million for it (300k under market value) due to a guest/stranger who committed suicide, where the owners now have property that has a stigma around it. Circumstances completely out of the owners' control...

I share this because it's not something you might consider when innocently renting out an Airbnb for some passive income. You really have no control over the guests...

Hey BP!

I've been facing issues with my current accounting company, so I met with another tax professional who suggested incorporating as a C-corp instead of an S-Corp. I'd love to hear insights from BP CPAs and Real Estate agents about their incorporation choices and the benefits they've experienced with both.

The second tax professional claimed "cost segregation" isn't real and offered to accelerate depreciation on certain systems in my investment properties. My current company quoted $5000 for a cost segregation study, but I found an online solution for $500. It's quite a price gap!

I'm currently using Formations, but it's not meeting my expectations. Any suggestions for a one-stop shop catering to Real Estate Agents? I'd appreciate any advice or recommendations you might have!

THX BP and Happy Holidays! 🎉🎉🎉

_Nash

Sounds like a joke... I just saw an instagram post for this and wanted to do some quick research. Thats when I saw your post... They want you pay a 15k initiation fee!? Nope. 

I'm excited to explore the world of syndication investments and would love to connect with others who have experience in this area. I'm particularly interested in learning about the types of syndications people are investing in and where they have found the best returns.

What matters most to me is finding a trustworthy partner with a proven track record of success. If anyone has recommendations or insights on reliable syndication opportunities to create some passive income for dog food, I'd greatly appreciate your input. Thanks in advance for your help, BP!

Thanks Stphen! where are the rates trending currently on this product? 

Thx Scott! LMK if you see any that are assumable in SD! 

It might be the same thing as to the Debt Service Coverage Ratio, where the market or current rent on 3 and 4-unit buildings rent has to cover (I think) 75% of the PITI. I have never seen it work on anything in the Bay Area as the rents are either too low, or the price of the property is too high if the property is vacant. I also heard that the insurance premiums on these loans right now are astronomical, so I was wondering if other markets are seeing the same thing for these loans... Duplexes are exempt from this rule.

Here is a link to a little synopsis: https://modernhomelending.com/...

I'm a real estate agent in the bay area and have found that three and four-unit buildings with FHA loans don't ever pencil out because of the "self-sufficiency test". I'm wondering if (and where) agents or investors have successfully utilized an FHA loan on a three and or four-unit building with only 3 1/2% down.

Looking to utilize an FHA loan in one of these areas. My partner works remotely, so I think we can convince an underwriter to give us an FHA loan as we meet the criteria! Looking for some value add! Thanks BP!

I am looking at ways to build and finance an ADU on my duplex in Richmond. Currently, I have a detached garage that needs to be torn down and I have to get creative with ways to add ADU. The challenge I'm running into is that with most construction loans, I would need to refinance my mortgage once the work is complete, where (today) I would probably be paying an upwards of 6% from my 3% mortgage, which totally skews the numbers.

Is anyone aware of amazing lines of credit or niche products for something like this.. I am looking for 100-200k... or is Hard Money the only option? Thanks BP! 

I would love some weigh ins from BP about the over all best markets for BRRRR. Considering the investment, from appreciation, price points, and potential rent, while also considering cheap labor, property taxes, and the icing on the cake would be niche products to refi! Thanks BP! Looking forward to all your alls input!

Are you going to sell it? Compass Concierge is a great way to pull out cash, and you can pay it back at 0% interest when you close on the deal if you were looking to sell....